EURL vs. FNGU

Last updated Jun 14, 2026

EURL (Direxion Daily FTSE Europe Bull 3x Shares) and FNGU (MicroSectors FANG+ 3X Leveraged ETNs) are both Leveraged Equities funds - EURL tracks the FTSE Developed Europe Index (300%) while FNGU tracks the NYSE FANG+ Index (Gross Total Return) (300%). Both are passively managed. Over the past year, EURL returned 43.44% vs 25.83% for FNGU. At a 0.43 correlation, their price movements are largely independent. EURL charges 1.07%/yr vs 2.60%/yr for FNGU.

Performance

EURL vs. FNGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily FTSE Europe Bull 3x Shares (EURL) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EURL achieves a 13.73% return, which is significantly higher than FNGU's 3.96% return.

EURL

• 1D: -0.06%
• 1M: 12.42%
• YTD: 13.73%
• 6M: 19.84%
• 1Y: 43.44%
• 3Y*: 31.61%
• 5Y*: 5.43%
• 10Y*: 11.27%

FNGU

• 1D: -2.52%
• 1M: -9.35%
• YTD: 3.96%
• 6M: -3.67%
• 1Y: 25.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EURL vs. FNGU - Yearly Performance Comparison

	2026 (YTD)	2025
EURL Direxion Daily FTSE Europe Bull 3x Shares	13.73%	58.53%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	3.96%	3.02%

Correlation

The correlation between EURL and FNGU is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.43

EURL vs. FNGU - Sectors Allocation Comparison

Sectors	EURL	FNGU
Financial Services	23.5%	-
Industrials	20.4%	-
Healthcare	12.5%	-
Technology	8.5%	60.6%
Consumer Defensive	7.9%	-
Consumer Cyclical	7.0%	9.6%
Basic Materials	5.5%	-
Energy	5.4%	-
Utilities	4.7%	-
Communication Services	3.1%	29.8%
Real Estate	1.6%	-

Return for Risk

EURL vs. FNGU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EURL

EURL Risk / Return Rank: 26
EURL Sharpe Ratio Rank: 24
EURL Sortino Ratio Rank: 27
EURL Omega Ratio Rank: 26
EURL Calmar Ratio Rank: 26
EURL Martin Ratio Rank: 28

FNGU

FNGU Risk / Return Rank: 16
FNGU Sharpe Ratio Rank: 15
FNGU Sortino Ratio Rank: 19
FNGU Omega Ratio Rank: 19
FNGU Calmar Ratio Rank: 14
FNGU Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EURL vs. FNGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EURL	FNGU	Difference
Sharpe ratio: Return per unit of total volatility	0.77	0.35	+0.42
Sortino ratio: Return per unit of downside risk	1.33	0.87	+0.45
Omega ratio: Gain probability vs. loss probability	1.16	1.11	+0.05
Calmar ratio: Return relative to maximum drawdown	1.11	0.36	+0.76
Martin ratio: Return relative to average drawdown	3.50	0.85	+2.65

EURL vs. FNGU - Sharpe Ratio Comparison

The current EURL Sharpe Ratio is 0.77, which is higher than the FNGU Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of EURL and FNGU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EURL vs. FNGU - Drawdown Comparison

The maximum EURL drawdown since its inception was -84.65%, which is greater than FNGU's maximum drawdown of -61.30%. Use the drawdown chart below to compare losses from any high point for EURL and FNGU.

Drawdown Indicators

	EURL	FNGU	Difference
Max Drawdown Largest peak-to-trough decline	-84.65%	-61.30%	-23.35%
Max Drawdown (1Y) Largest decline over 1 year	-33.05%	-59.55%	+26.50%
Max Drawdown (3Y) Largest decline over 3 years	-38.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-75.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-84.65%	—	—
Current Drawdown Current decline from peak	-8.76%	-27.36%	+18.60%
Average Drawdown Average peak-to-trough decline	-36.91%	-22.25%	-14.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.56%	24.91%	-14.35%

Volatility

EURL vs. FNGU - Volatility Comparison

The current volatility for Direxion Daily FTSE Europe Bull 3x Shares (EURL) is 17.98%, while MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a volatility of 27.31%. This indicates that EURL experiences smaller price fluctuations and is considered to be less risky than FNGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EURL	FNGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.98%	27.31%	-9.33%
Volatility (6M) Calculated over the trailing 6-month period	40.51%	50.15%	-9.64%
Volatility (1Y) Calculated over the trailing 1-year period	48.09%	61.43%	-13.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.55%	79.93%	-26.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.82%	79.93%	-24.11%

EURL vs. FNGU - Expense Ratio Comparison

EURL has a 1.07% expense ratio, which is lower than FNGU's 2.60% expense ratio.

Dividends

EURL vs. FNGU - Dividend Comparison

EURL's dividend yield for the trailing twelve months is around 1.37%, while FNGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EURL Direxion Daily FTSE Europe Bull 3x Shares	1.37%	1.50%	3.51%	2.50%	1.80%	0.33%	0.41%	1.17%	3.07%	0.38%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EURL and FNGU in my portfolio?

EURL and FNGU have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EURL or FNGU?

FNGU has higher volatility (27.31%) compared to EURL (17.98%). In terms of maximum drawdown, EURL dropped -84.65% vs FNGU's -61.30%.

Which ETF is better, EURL or FNGU?

On 1-year performance, EURL leads with 43.44% vs 25.83% for FNGU. On fees, EURL is cheaper at 1.07% per year. On volatility, EURL has been the lower-risk option at 17.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EURL or FNGU?

Over the 1-year period, EURL has performed better with a 43.44% return vs 25.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EURL or FNGU?

EURL is cheaper with a 1.07% expense ratio, compared with 2.60% for FNGU.

Which ETF pays a higher dividend yield, EURL or FNGU?

EURL has the higher dividend yield at 1.37%, compared with 0.00% for FNGU.

What is the main difference between EURL and FNGU?

EURL tracks FTSE Developed Europe Index (300%), while FNGU tracks NYSE FANG+ Index (Gross Total Return) (300%). They also come from different issuers: Direxion and Bank of Montreal. Their fees differ too: 1.07% for EURL and 2.60% for FNGU.

Which has better risk-adjusted returns?

EURL currently has the higher Sharpe Ratio (0.77 vs 0.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.